Author: Anita Arthur Kissi-Mireku
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Gov’t must invest in more long term strategies – Economist
An economist, Dr. Patrick Asuming says the government should invest in long term strategies that will rake in substantial revenue for the country. He contends that policies and tax initiatives such as the benchmark value reduction policy and the luxury income tax were short-lived and failed to serve the purpose for which they were implemented.…
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Give us time to pay 1% levy – Tourism Chamber to Government
The Chief Executive Officer (CEO) of the Chamber for Tourism Industry Ghana, Emmanuel Treku has asked the Ghana Tourism Authority (GTA) to sensitize players in the hospitality industry on the need to pay their 1% tax levy rather than shutting down facilities which have failed to do so in recent times. The GTA last week…
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Benchmark value discounts: Importers & exporters unhappy with delayed consultations
The Importers and Exporters Association of Ghana has expressed its disappointment over what it described as government’s lack of engagement with stakeholders following the suspension of the 50% benchmark value reduction policy. The government on the 13th of January directed the Ghana Revenue Authority to suspend the implementation of the reversal of the benchmark value…
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Fitch downgrades Ghana’s credit rating from B to B- with negative outlook
International ratings agency, Fitch, has downgraded Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to B negative from B with a negative outlook. According to the agency, the move was over concerns that the economy faced increased risks in servicing its debts in the medium to long term. A report by the agency further states that,”…
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Benchmark value discounts reversal: 10-day deferment period not enough – Importers & exporters
The Importers and Exporters Association of Ghana has rejected the 10-day period for the deferment of the implementation of the reversal of the benchmark value discounts. The association explains that the 10-day period is not enough for their members to clear their goods that arrived in the country’s port ahead of the initial implementation date…
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Insurance companies that fail to meet recapitalization deadline to be stopped from doing business
Insurance Companies that fail to meet the January 2022 recapitalization deadline will no longer be able to conduct business activities such as renewal of policies or advertisement of the business. This is according to the Commissioner of Insurance at the National Insurance Commission (NIC), Justice Ofori. The move follows a decision by the NIC to…
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Local poultry farmers optimistic industry will grow following reversal of benchmark policy
Following the government’s decision to implement the cancellation of the 50% Benchmark value reduction policy on some 43 selected items including poultry, the Greater Accra Poultry Farmers Association is confident, the policy measure will boost the local poultry industry. The growth of the Poultry Industry in the country over the period has suffered due to…
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Price of poultry to go up by more than 50% this year compared to last year
Consumers of poultry should be prepared to pay more than fifty percent for purchases they make this Christmas season. This is a warning from the Greater Accra Poultry Farmers Association who attribute the expected hikes to the incident of maize shortage as well as the reduced import of day-old chicks into the country this year.…
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Ministry of Finance denies dropping GH¢2.4 million e-levy service charge
The Ministry of Finance has dismissed allegations that the GH¢241,933,000 allocations in the Appropriations Bill for the Electronic Transactions Levy services have been dropped. It also denied claims that a private firm will be contracted to collect the levy on behalf of the government. The ministry also noted that the Ghana Revenue Authority (GRA) is…
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GAWU urges government to address fertilizer challenges amidst farmers day celebrations
The General Agricultural Workers Union (GAWU) is urging the government to ensure there is enough fertilizer for the country’s next major planting season. They further want the government to put in place adequate measures to prevent the smuggling of the product. The agricultural sector has been plagued with a number of challenges in the past…